The SoftBank-backed grocery delivery service has received $16.7m from KTB Network to push its overall funding past $650m.

Grofers, the India-based online grocery retailer that counts internet and telecommunications group SoftBank as its largest corporate investor, has raised $16.7m from venture capital firm KTB Ventures, Entrackr has reported.

KTB Ventures bought nearly 250,000 series G preference shares in the round, according to Entrackr, which cited a regulatory filing.

Grofers’ platform allows users to order groceries and other household items for delivery across India. It secured $120m from restaurant review and food delivery service Zomato and Tiger Global…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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